After less than four months with the team, Gary Graham has been fired.
The 43-year-old left the team after back-to-back defeats by the leaders.
Graham was appointed to the job in May.
The results have not been what the club wanted.
Bringing in a new voice will give the group a new direction.
The third permanent head coach of the year will be Graham's replacement.
Mark Matheson took the job on an interim basis and guided the team to fourth place.
Graham spent six years in charge of the Fort Wayne Komets in the United States and had a stint as a coach in China.
He has overseen just six wins from 15 league games, leaving the panthers 18 points off the lead.
The lowest ranked team after the group stages of the competition made it through to the quarter-finals.
The Continental Cup was the last major trophy won by the Challenge Cup winners.
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